Canaccord Genuity Group Issues Pessimistic Forecast for Tullow Oil (LON:TLW) Stock Price

Tullow Oil (LON:TLW) had its price target lowered by Canaccord Genuity Group from GBX 35 ($0.44) to GBX 25 ($0.32) in a research report sent to investors on Thursday, MarketBeat Ratings reports. Canaccord Genuity Group currently has a speculative buy rating on the stock.

Separately, Shore Capital reiterated a “not rated” rating on shares of Tullow Oil in a report on Tuesday, February 4th.

Tullow Oil Price Performance

Shares of TLW opened at GBX 16.33 ($0.21) on Thursday. Tullow Oil has a 12-month low of GBX 15.62 ($0.20) and a 12-month high of GBX 40.32 ($0.51). The business’s fifty day moving average is GBX 20.65 and its 200 day moving average is GBX 22.95. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31. The stock has a market cap of £301.96 million, a P/E ratio of 19.29, a P/E/G ratio of -0.19 and a beta of 2.08.

Insider Buying and Selling at Tullow Oil

In related news, insider Roald Goethe acquired 100,000 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were acquired at an average cost of GBX 20 ($0.25) per share, for a total transaction of £20,000 ($25,342.12). Company insiders own 24.59% of the company’s stock.

Tullow Oil Company Profile

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. The Company’s operations are focused on its West-African producing assets in Ghana, Gabon and Côte d’Ivoire, alongside a material discovered resource base in Kenya. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030 and has a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations.